Inequality, climate impacts on the future poor, and carbon prices

Pnas 112 (52) (2015)
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Abstract

Integrated assessment models of climate and the economy provide estimates of the social cost of carbon and inform climate policy. We create a variant of the Regional Integrated model of Climate and the Economy (RICE)—a regionally disaggregated version of the Dynamic Integrated model of Climate and the Economy (DICE)—in which we introduce a more fine-grained representation of economic inequalities within the model’s regions. This allows us to model the common observation that climate change impacts are not evenly distributed within regions and that poorer people are more vulnerable than the rest of the population. Our results suggest that this is important to the social cost of carbon—as significant, potentially, for the optimal carbon price as the debate between Stern and Nordhaus on discounting.

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Author Profiles

Marc Fleurbaey
Princeton University
Mark Budolfson
University of Texas at Austin

References found in this work

The idea of justice.Amartya Sen - 2009 - Cambridge, Mass.: Belknap Press of Harvard University Press.
The Idea of Justice: A Reply.Amartya Sen - 2011 - Social Philosophy Today 27:233-239.

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